L1 Retail to buy Holland & Barrett

|By:, SA News Editor

The U.K.'s biggest health food retailer is being bought by a Russian billionaire for £1.8B.

Mikhail Fridman is using his fund, L1 Retail, to buy Holland & Barrett from private equity firm Carlyle (NASDAQ:CG) and expects the deal to close in September.

The chain has more than 1,300 stores around the world.

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